143.321. Exempt associations, trusts, and organizations.
Exempt associations, trusts, and organizations.
143.321. A trust or other unincorporated organization whichby reason of its purposes and activities is exempt from federalincome tax shall be exempt from the tax imposed by sections143.011 to 143.996. The preceding sentence shall not apply tounrelated business taxable income and other income on whichChapter 1 of the Internal Revenue Code imposes the federal incometax or any other tax measured by income.
(L. 1972 S.B. 549)Effective 1-1-73